Dex Media: Likelihood Of Successful Merger Increases
Friday, 14 September 2012 09:42
2012 - The Year of The Directories Business
Dex Media (DEXO) will succeed in refinancing debt and has thunderous upside leveraged at 3.0x. Hibu Plc is caving and the equity isn't a buy as it is way too indebted (4.7x). PagesJaunes is in the process of extending debt repayments and is presently leveraged at 3.66x. Yellow Media, the least leveraged of the bunch (2.7x), is pursuing the least shareholder friendly option of them all, effectively giving the company to creditors without a fight because the creditors asked for it.
(Source: Seeking Alpha. Read more....)